You invest $2500 in an account to save for college. Account 1 pays 6% annual interest
compounded quarterly. Account 2 pays 4%
annual interest compounded continuously.
Which account should you choose to
obtain the greater amount in 10 years?
Justify your answer. Round any answers to
the nearest whole dollar.
You should choose account 2 because
account 1 will have a balance of about $
after 10 years and account 2 will have
a balance of about $
after 10 years.

d. 24+-0.114

step-by-step explanation:

the question requires us to calculate the approximate 95% confidence interval for the mean number of ounces of ketchup per bottle in the sample given the following statistics;

sample mean = 24

standard deviation, σ = 0.4

sample size , n = 49

the confidence interval for a population mean is calculated using the formula;

sample mean ± z-score*(σ/sqrt(n))

the z-score associated with a 95% confidence interval, from the standard normal tables, is;

1.96

substituting these values into the formula;

24 ± 1.96*(0.4/7)

= 24 ± 0.112

from the alternatives given, choice d is closest to the above expression;